Legal Question in Credit and Debt Law in Virginia
We have a home in Virginia and a car , both 3 months behind in payments. We are told we have 2 days before the car is repossessed. A one month payment has been sent for the car, but not yet received by Honda Financial Services. The house payment is through Bank of America.
All other bills are current.
We have moved to Korea to teach English - as to work and meet our debt obligations.
We have been in Korea two months - we can meet monthly expenses/payments, but not pay the past due owed. What course do you recommend for us - or will we lose our car and home.
3 Answers from Attorneys
Contact your creditors immediately , explaining where the two of you now are and what you're up to, and see what arrangements to forestay foreclosures on your home and car can possibly be worked out.
If you can't work something out with them on your own, you might consider getting an attorney or a debt relief agency or other groups to help you. Good luck.
You may be able to do a Chapter 13 bankruptcy to get caught up on the car and home loans.
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